Brazil Embraer to unveil 2 new executive jets, likely in 2007-report

AlastairStewart

SAO PAULO (MarketWatch) -- Brazilian aircraft manufacturer Empresa Brasileira de Aeronautica SA
ERJ, -0.26%
or Embraer, plans to add two new executive jets to its range, probably unveiling them in 2007, Chief Executive Mauricio Botelho said Thursday, according to the local Estado newswire.

The two new planes will compete with Bombardier Inc.'s (BBD.B.T) and Textron Inc.'s
TXT, +0.98%
jets in the mid-light and mid-size categories, Embraer officials told journalists at its headquarters in Sao Jose dos Campos in Sao Paulo state.

The planes will sit between the Phenom 300 and Legacy 600 in its executive jet range, with a capacity of eight to 11 passengers.

According to Luis Carlos Affonso, Embraer vice president for the executive jet market, the projects for the two planes are at an advanced stage.

Embraer has made its name selling regional jets as airlines use more smaller planes for short-haul flights. But the company has successfully diversified into the executive jet market, with its Phenom and Legacy jets proving popular.

Embraer hopes the executive jet section will account for 20% of revenue within the next five to 10 years, Affonso said. In 2006, it represented 15% of revenue.

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